Tremblay posted: Make a good plan and choose the best strategy to make money in this lucrative market.
Scalping so far has proved to be a great money minting strategy for me after trying swing and day trading. There’s no match to the adrenaline rush and making money fast.
Move a bit left or right from your strategy and watch your money slip away. In fact the adrenaline rush you’re speaking of can be one of the reasons to make emotional decisions and lose the trade.
That’s the myth. Leave aside scalping, any strategy you come up with there would be a set of precautions or strategies to trade better. Similarly, select a good broker that offer low leverage as opposed to high leverage that’s recommended for scalping and tools for setting up the right stop-loss.
The market is a constant change and environment. Traders should have discipline and dedication in order to make it. If they keep following false signals and poor trading habits, they usually won't be successful neither in the long nor short term.
To be successful in trading, one has to be proficient in technical analysis, candlesticks and psychology of trading. You must develop the ability to be able to discern the market. It's a process that takes time. Be patient and study.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.